Innodata Inc. (NASDAQ:INOD) Receives $63.00 Average PT from Analysts

Innodata Inc. (NASDAQ:INOD) has been assigned an average rating of “Moderate Buy” from the five research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $72.00.

A number of analysts recently commented on the company. BWS Financial lifted their price objective on Innodata from $74.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Innodata in a research report on Saturday, September 27th.

Innodata Trading Down 9.2%

Innodata stock opened at $83.28 on Thursday. The stock has a market cap of $2.65 billion, a PE ratio of 67.16 and a beta of 2.96. The stock has a 50-day moving average price of $56.69 and a 200 day moving average price of $46.95. Innodata has a 52 week low of $15.33 and a 52 week high of $93.85. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09.

Innodata (NASDAQ:INOD) last posted its quarterly earnings data on Thursday, July 31st. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $58.39 million during the quarter, compared to analysts’ expectations of $56.35 million. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The company’s quarterly revenue was up 79.7% on a year-over-year basis. Equities research analysts predict that Innodata will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Innodata

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. U.S. Capital Wealth Advisors LLC purchased a new stake in Innodata in the 3rd quarter valued at about $602,000. City Center Advisors LLC purchased a new stake in Innodata in the 3rd quarter valued at about $468,000. State of Wyoming grew its holdings in Innodata by 38.3% in the 2nd quarter. State of Wyoming now owns 4,334 shares of the technology company’s stock valued at $222,000 after buying an additional 1,200 shares during the period. Nomura Holdings Inc. purchased a new stake in Innodata in the 2nd quarter valued at about $253,000. Finally, FORA Capital LLC purchased a new stake in Innodata in the 2nd quarter valued at about $797,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

About Innodata

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.